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White House considering Mohamed El Erian for Federal Reserve Vice Chair: The White House is considering Allianz’ chief economic adviser and Egypt’s favourite economic whiz Mohamed El Erian for vice chairman of the Federal Reserve, sources confirmed to CNBC on Tuesday. El Erian replace Stanley Fischer, who vacated his seat in October, and would, if […]
Author Archives: enterpriseam admin
Posted inWhat We’re Tracking This Week
What we’re tracking this week
It’s interest rate week: The central bank’s Monetary Policy Committee will meet on Thursday to review key interest rates. The meeting comes as inflation inched down fractionally in October, but nine out of 10 economists polled by Reuters believe the decreased is not yet substantial enough to warrant a change in interest rates from their […]
Posted inEnterprise+: Last Night’s Talk Shows
Talking heads remain concerned about the fate of GERD
The airwaves served up an array of topics last night, including concerns over the Grand Ethiopian Renaissance Dam (GERD) talks and Egypt’s fuel subsidy bill. The government is sticking to its plans to completely lift fuel subsidies within 4-5 years, but subsidies will remain at their current levels for the remainder of the fiscal year, […]
Posted inSpeed Round
EBRD goes on a spending spree supporting Egyptian banks
The European Bank for Reconstruction and Development just loaned a crisp USD 325 mn to Egypt’s banks to drive SME lending, export growth and the expansion of banks into Africa. CIB signed an agreement for a USD 100 mn subordinated loan with the European Bank for Reconstruction and Development (EBRD). CIB says the loan qualifies […]
Posted inSpeed Round
Businesses need to help middle- and upper-income staff keep pace with inflation
Want to keep growing your business? One of the most important things business you can do is help your middle- and upper-income staff keep pace with inflation. And one of the most important things staff can do in return is deliver productivity gains. It’s a thesis we would agree with wholeheartedly even if we didn’t […]
Posted inSpeed Round
Zero-tolerance policy for ergot could be making a comeback
Just when you thought the ergot issue was resolved, it comes back like Glenn Close in Fatal Attraction: An Administrative Court ruled on Tuesday a decree from the prime minister’s office last year that effectively allowed wheat shipments of 0.05% ergot to enter Egypt was invalid, Reuters reports. The ruling raises the specter that the […]
Posted inSpeed Round
Natural Gas Act executive regs coming in days; talks with Aramco on refining in Egypt are underway
LEGISLATION WATCH- The executive regulations of the Natural Gas Act are coming in days, Oil Minister Tarek El Molla said in an interview with Bloomberg on Tuesday. The long-awaited regs would effectively open the door for the private sector to import, produce, and distribute gas, turning the state into a regulator of the national gas […]
Posted inSpeed Round
New SMEs law to offer tax and non-tax incentives, could eliminate interest on loans for registered businesses
LEGISLATION WATCH- New SMEs law to offer tax and non-tax incentives, could eliminate interest on loans for registered businesses: SMEs will receive a number of tax and nontax incentives, under new legislation being prepared by the government, to encourage them to join the formal economy, Vice Minister of Finance Amr El Monayer said yesterday, Ahram […]
Posted inSpeed Round
Rosneft to invest USD 2 bn in Zohr over four years
INVESTMENT WATCH- Rosneft is looking to invest USD 2 bn in the field over the next four years, Reuters reports. Rosneft also said it may increase its stake in gasfield to 35%. The Russian major had purchased a 30% stake from Eni for USD 1.125 bn. The company and its investments have made it an […]